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Top Ten Issues Impacting the Commercial Real Estate Industry
The Counselors of Real Estate, a 1,100-member organization, identified the ten issues that are inclined to have the most impact on real estate.
3. Weather and Climate Related Risks
4. Technology Impact
5. End of cycle Economics
6. Political Division
7. Capital Market Risks
8. Population Migration
9. Volatility and Confidence
10. Public and Private Indebtedness
Lets focus on the top three:
U.S. infrastructure is the primary concern among the issues expected to have the most impact on real estate as is tied to sustainable growth. At the National Association of Real Estate Editors’ annual conference in Austin, TX, the Counselors of Real Estate noted that the U.S. must invest in infrastructure to compete globally. They state that the US is lagging other nations on infrastructure investment. Roads, bridges, tunnels, railways, airports, the power grid, water systems, and levees are giving way with greater frequency.
As the gap is widening between the increasing price of homes and the decreasing level of ability to pay, the causes can be found both on the supply and the demand side of the housing equation. The stability of the middle class is threatened by the affordability of housing in addition to the limits on the deductibility of state and local taxes.
3. Weather and climate-related risks:
Real estate investors are requiring that climate risk be assessed and factored into return projections and day-to-day decisions. Weather and climate-related risk has emerged as a new aspect of fiduciary duty and what it means to assess, disclose, and manage these risks for real estate investments. At the conference presentation, it was noted that real estate investors can no longer rely on historic performance to predict future returns. With the frequency and intensity of events increasing, the report states that weather and climate-related events present physical and operational risks for real property.
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Shaun's focus is on residential real estate in Fairfield, Westchester, Putnam, Dutchess and the surrounding counties. Licensed in New York and Connecticut, Shaun is also Commercial and Investment Rea....